Page 21 - Wages, Salaries and Other Earnings
P. 21

Bonusses and Awards














                                                                                               Bonusses




                                                                                               If you receive a bonus or

                                                                                                  award (cash, goods,

                                                                                                  services) from your
                                           IN                                                     employer, you must

                                                                                                  include its value in your

                                                                                                  income.
                                                                                               However, if your

                                                                                                  employer merely

                                                                                                  promises to pay you a

                                                                                                  bonus or award at some
                                                                                                  future time, it isn’t

                                                                                                  taxable until you receive

                                                                                                  it or it’s made available
                                                                                                  to you.
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